MUMBAI, India — Indian equity markets ended lower on Wednesday after a highly volatile trading session, as losses in information technology and realty stocks weighed on sentiment amid geopolitical concerns and uncertainty over a U.S.-India trade deal.
The Sensex fell 244.98 points, or 0.29 percent, to close at 83,382.71, while the Nifty slipped 66.70 points, or 0.26 percent, to settle at 25,665.60.
Market participants remained cautious throughout the day, with analysts pointing to resistance levels visible in derivatives data. “From a derivatives perspective, Nifty options data showed maximum call open interest at the 26,000 and 25,800 strikes, highlighting strong resistance levels,” an analyst said. “On the downside, maximum put open interest at the 25,700 and 25,600 strikes suggests immediate support zones.”
Sentiment was also subdued ahead of a trading holiday. Both the Bombay Stock Exchange and the National Stock Exchange of India will remain closed on Thursday due to municipal corporation elections in Maharashtra.
On the Sensex, Tata Steel, NTPC, and Axis Bank emerged as the top gainers, supported by buying interest in metal and banking stocks. Asian Paints, TCS, and Maruti Suzuki were among the biggest drags on the index.
A similar pattern was seen on the Nifty, where Tata Steel, NTPC, and Axis Bank advanced, while Asian Paints, TCS, and Tata Consumer Products declined.
Broader markets outperformed the benchmark indices. The Nifty SmallCap 100 index rose 0.67 percent, while the Nifty MidCap 100 index closed 0.29 percent higher.
Sectorally, IT and realty stocks came under pressure, with the Nifty IT index falling 1.08 percent and the Nifty Realty index declining 0.92 percent. In contrast, metal and PSU bank stocks outperformed, with the Nifty Metal index surging 2.70 percent and the Nifty PSU Bank index gaining 2.13 percent.
Analysts said markets remain cautious amid global uncertainties, though strength in broader segments and select sectors helped prevent steeper losses. On the technical front, repeated rejection near the 25,900 level continues to cap the Nifty’s upside, with immediate resistance now seen around 25,800.
“On the downside, a decisive break below 25,600 could open the door for further weakness toward the 25,500–25,450 zone,” market watchers said. (Source: IANS)
